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they are still not making much progress in the fiscal cliff. >> doug is live from washington. >> either way they stave off the fiscal cliff. spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations
they are still not making much progress in the fiscal cliff. >> doug is live from washington. >> either way they stave off the fiscal cliff. spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps...
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i think we ought to recognize this entire fiscal cliff is an artificial invention of washington, created by people in the congress and the presidency, and it can be broken down by them into a series of steps that can be taken without having to be rushed into one gigantic last-minute, little understood, with no hearings, one vote up or down, i think it's a terrible way to govern the united states. >> greta: well, the sequestration deadline is coming up the 1st of january. what people are saying on capitol hill, the president is saying, congress is saying, it may be scary stuff, but if we go over the fiscal cliff that all sorts of things will happen, that there will be another recession, we'll go deeper into our existing one, if we have an existing one, jobs lost, the market will crater, should we go over the fiscal cliff, even though it's created by the president, the house, the senate, failed to do their work a year and a half ago and pushed us against this deadline. your thoughts. >> right. my thoughts, they could pass a provision to extend it 90 days, break it down into a series of pro
i think we ought to recognize this entire fiscal cliff is an artificial invention of washington, created by people in the congress and the presidency, and it can be broken down by them into a series of steps that can be taken without having to be rushed into one gigantic last-minute, little understood, with no hearings, one vote up or down, i think it's a terrible way to govern the united states. >> greta: well, the sequestration deadline is coming up the 1st of january. what people are...
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. >> just 33 days left until the so-called fiscal cliff is reached, in washington, d.c. treasury-secretary timothy geithner is trying to get both sides to agree. republicans complain that democrats are basking in their win. >> the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are willing to make. >> nancy pelosi seen here with mexico's president-elect called out on the speaker. >> they passed a bill to extend middle income tax cuts. democrats stand ready to support it. president stands ready to sign it. why? why are you holding this up. >> president obama told boehner there is no deal unless to keep the tax rates go up for those earning more $250,000. >> 138 nations voted to granted the palestinian authority status as a non-member observer state. israel and united states voted against the controversial measure which could make it easier for the palestinian authority to pursue israel in international courts. palestinian president mahmoud abbas called it a
. >> just 33 days left until the so-called fiscal cliff is reached, in washington, d.c. treasury-secretary timothy geithner is trying to get both sides to agree. republicans complain that democrats are basking in their win. >> the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are willing to make. >> nancy pelosi seen here with mexico's president-elect called...
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john boehner is reswrekting the president's michelle proposal involving the fiscal cliff. let's lisp in. >> the president in the coming days. during the campaign the president pledged to american people that he would seek a balanced approach to addressing the debt with a combination of new revenues and spending cuts. the day after the election i said the republican majority would accept new revenue as part of a balanced approach that includes real spending cuts and reforms. now, the white house took three weeks to respond with any kind of a proposal, and much to my disappointment, it wasn't a serious one. still, i'm willing to move forward in good faith. our original framework still stands. instead of raising tax rates, we can produce similar amount of revenue, reforming the tax code to close loopholes and lower tax rates. it's far better for the economy when the american people paver on that approach by 2-1. they favor it eep more when we can also show them that real spending cuts will, in fact, reduce the deficit. now, there have been many conversations over the last cou
john boehner is reswrekting the president's michelle proposal involving the fiscal cliff. let's lisp in. >> the president in the coming days. during the campaign the president pledged to american people that he would seek a balanced approach to addressing the debt with a combination of new revenues and spending cuts. the day after the election i said the republican majority would accept new revenue as part of a balanced approach that includes real spending cuts and reforms. now, the white...
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if we fall off the fiscal cliff, their taxes are going to go up. what could hurt more is less money in customers pockets. that could be worse than tax increases. a big question is how much our tax is going to go up for small businesses if we fall after the cliff. they have done analysis, if you are in the bottom making $20,000 a year as an individual or small business, your taxes go up 600 bucks. if you are in the top, $108,000 or more, taxes go up $13,000 a year. it depends on where you fall. >> if in washington they decide to raise taxes on the top earners, that would be the small businesses. >> absolutely. if it's 108,000 or more, it's a lot of those small businesses. >> i talked to a woman who made your exact point. my customer base is a problem now. we are headed into the holiday season and nobody wants to spend money because of the uncertainty. >> he's had four layoffs because he cannot budget. >> you look at the gdp report, companies spending money on equipment was down, down big. it's because you are not going to do anything. you don't know
if we fall off the fiscal cliff, their taxes are going to go up. what could hurt more is less money in customers pockets. that could be worse than tax increases. a big question is how much our tax is going to go up for small businesses if we fall after the cliff. they have done analysis, if you are in the bottom making $20,000 a year as an individual or small business, your taxes go up 600 bucks. if you are in the top, $108,000 or more, taxes go up $13,000 a year. it depends on where you fall....
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. >> for more information about the fiscal clef, visit our web site c-span.org. >> friday on washington and now,norman ornsteein.. tax credits on family and businesses that would be impacted if congress does not impact the fiscal cliff. >> the program began, one of the and as as to president franklin roosevelt, to document conditions under which people were living. this is when we did talk have television. have of places didn't electricity said they couldn't listen to the radio broadcasts to find out what was happening and a parts of the country. he was the head of this project. 1939 when kodak had a color film, he had his photographers tried out. kodak was trying to estimate was a new market, a new product, and they wanted people who knew how to use it effectively to try it out and publicize it. >> american artifacts, sunday at 7:00 p.m. eastern on american history tv. >> harry reid end of the democratic leaders briefed reporters on negotiations on the fiscal cliff compromise. lawmakers have until december to negotiate a deal that would avert the tax decreases that would affect in janu
. >> for more information about the fiscal clef, visit our web site c-span.org. >> friday on washington and now,norman ornsteein.. tax credits on family and businesses that would be impacted if congress does not impact the fiscal cliff. >> the program began, one of the and as as to president franklin roosevelt, to document conditions under which people were living. this is when we did talk have television. have of places didn't electricity said they couldn't listen to the...
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and stephen sloan will talk about the fiscal cliff. washington journal is live starting at 7:00 eastern on c-span. >> president obama travels to pennsylvania friday to talk about his plan to avoid the so-called fiscal cliff. we'll be live from the manufacturing company at noon eastern an c-span2 3. >> worked his way up, went to harvard law school and then immigrated out west to illinois where the lead mine industry was in its hey day. he arrived after about a month's journey by shi ship, by stagecoach, by train and arrived on this steam boat in this muddy mining town boarded himself in a log cabin, established a law practice in a log cabin and worked his way up and became a successful lawyer. and got involved politically and ran for congress eight terms. and then befriended abraham lincoln from illinois. and then grant. and as they were on the rice, wash burn stayed with them as a close colleague during the civil war. and after grant was elected president he initially appointed him secretary of state. and at that time he became very il
and stephen sloan will talk about the fiscal cliff. washington journal is live starting at 7:00 eastern on c-span. >> president obama travels to pennsylvania friday to talk about his plan to avoid the so-called fiscal cliff. we'll be live from the manufacturing company at noon eastern an c-span2 3. >> worked his way up, went to harvard law school and then immigrated out west to illinois where the lead mine industry was in its hey day. he arrived after about a month's journey by shi...
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so much for a week of work here in washington to avert what's called the fiscal cliff. treasury secretary tim geithner gave house republicans new ideas on resolving the fiscal cliff. and left with their anger ringing throughout the capitol. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. i've got to tell you, i'm disappointed. >> reporter: here are the big white house numbers. for $4 trillion deficit reduction in ten years, $1.6 trillion comes from households earning more than $250,000 a year. $400 billion in entitlement cuts in program like medicare and medicaid and $50 billion in new spending next year for inf infrastructu infrastructure. there's another idea. a permanent cease fire on raising the debt ceiling now $16 trillion that would allow it to rise automatically. republicans use the debt ceiling last year to extract spending cuts and they don't want to give up that leverage. >> there's a lot of things i've wanted in my life but almost all of them had a price tag attached to them. and if we're g
so much for a week of work here in washington to avert what's called the fiscal cliff. treasury secretary tim geithner gave house republicans new ideas on resolving the fiscal cliff. and left with their anger ringing throughout the capitol. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. i've got to tell you, i'm disappointed. >> reporter: here are the big white house numbers. for $4 trillion deficit reduction in...
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fiscal cliff. president obama appeared at a factory in pennsylvania making his case for raising taxes on top earners and accusing a handful of republicans of holding up a deal. if a deal is not reached by december 31, a $600 billion combination of tax increases and spending cuts goes into effect. let's get a check now on how the markets reacted to all of that news. our correspondence sent us this report from frankfurt. >> the dax climbed for about 2% this week, and share prices have been pushed mainly by the rescue package for greece, but at this last trading day of the week, trading has been quite low. the positive trend continued, although there has been some bad news coming in, like the record high unemployment rate in the euro area and the fact that u.s. consumers spend less money in october. nevertheless, the mood is fine. investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing i
fiscal cliff. president obama appeared at a factory in pennsylvania making his case for raising taxes on top earners and accusing a handful of republicans of holding up a deal. if a deal is not reached by december 31, a $600 billion combination of tax increases and spending cuts goes into effect. let's get a check now on how the markets reacted to all of that news. our correspondence sent us this report from frankfurt. >> the dax climbed for about 2% this week, and share prices have been...
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which is more like a fiscal tip in washington right now. markets finished up a bit yesterday but they had come off the day's highs because of comments from house speaker john boehner about the fiscal cliff negotiations. i think he said you guys got to get serious. pretty serious about his criticism of the white house. bonuses for executives shutting down hostess. that's right. a u.s. bankruptcy judge approved $1.75 million in incentive bonuses yesterday for 19 hostess bosses, as they unwind the company. the maker of beloved american staples like twinkies, wonder bread, ding dongs, ho-hoes, closed its doors earlier this month after its bakers union went on strike over reduced pay and benefits, and you'll recall the company went to a judge and said we're going to shut down. so they are. executives will get bonuses as they finish the job of closing down the company. >> a long time in the making, right? >> it could be they survived the great depression but couldn't survive the great recession and a couple attempts at bankruptcy, and that's it.
which is more like a fiscal tip in washington right now. markets finished up a bit yesterday but they had come off the day's highs because of comments from house speaker john boehner about the fiscal cliff negotiations. i think he said you guys got to get serious. pretty serious about his criticism of the white house. bonuses for executives shutting down hostess. that's right. a u.s. bankruptcy judge approved $1.75 million in incentive bonuses yesterday for 19 hostess bosses, as they unwind the...
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. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. >> i don't understand his brain. so, you should ask him. okay? >> tough words there. abc's jon karl is covering this all from capitol hill. jon, as we said, senate republican leader mitch mcconnell says he laughed out loud at geithner's offer. break down the offer from the white house and the republican objections. >> reporter: not only did he laugh out loud, the speaker saying it's unrealistic. the key is $1.6 trillion in tax increases over the next ten years. $50 billion in additional stimulus spending. $400 billion in medicare cuts. but unspecified over the ne
. >>> now, the stalemate in washington over the fiscal cliff. everyone's taxes are set to go up in just over a month if congress and the white house fail to reach a deal. and the talks blew up yesterday, after republicans dismissed the latest offer from secretary tim geithner. just listen to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult...
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had is happening on a day when we have not heard anything good about the fiscal cliff coming out of washington. first time the markets are ignoring any of that talk and powering on through. we will see if that continues as we get through the rest of the day. rick santelli is standing by at the cme in chicago. rick, we have been waiting for the numbers and waiting for something else to chew on. we will send it to you now. >> all right. well, here's a little extra chew for you. personal income for october, goose egg. unchanged. personal spending, spending side of the equation, down .2. not a model formula for the way we would like to see this number come out. i personally would like to see it come up big and spending down about where it is. you know, get the credit side back in order, personal balance sheet. anyway, down .2. unchanged on income. no revisions. we could look at all the internals but i have personally -- whether it is deflator, person a consumption expenditure. i don't see a lot there. personal consumption, expenditure core, up .1. all these are in line. what we walk away with here
had is happening on a day when we have not heard anything good about the fiscal cliff coming out of washington. first time the markets are ignoring any of that talk and powering on through. we will see if that continues as we get through the rest of the day. rick santelli is standing by at the cme in chicago. rick, we have been waiting for the numbers and waiting for something else to chew on. we will send it to you now. >> all right. well, here's a little extra chew for you. personal...
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all deadlines are as pressing as those in the fiscal cliff the day for the final drop of the vocal rule has been pushed out according to the n.b.c. from the end of year to possibly the first quarter of two thousand and thirteen does this simply leave more time for bank lobbying wins like the one scored from the treasury treasury over foreign exchange swaps during this transition out for timothy geithner bob english is here to talk about it all from studies south beach plus third quarter g.d.p. growth was revised up to two point seven percent up from the two percent gain previously reported by the commerce department and just short of expectations now reports are that this game could reverse but more important than that should we put stock in g.d.p. as a measure of the economy's health at all we'll discuss and earlier this week we asked the natural commentator peter schiff about his hyper inflation calls. i know that you're saying you can't predict when this is going to happen but why haven't we seen that happen well you know i guess i still say the hyperinflation is the worst case scena
all deadlines are as pressing as those in the fiscal cliff the day for the final drop of the vocal rule has been pushed out according to the n.b.c. from the end of year to possibly the first quarter of two thousand and thirteen does this simply leave more time for bank lobbying wins like the one scored from the treasury treasury over foreign exchange swaps during this transition out for timothy geithner bob english is here to talk about it all from studies south beach plus third quarter g.d.p....
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dig in and ramp up the rhetoric on the fiscal cliff. house speaker john boehner and senate majority leader harry reid trading jabs before the cameras on capitol hill. >> going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan lothian. dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion
dig in and ramp up the rhetoric on the fiscal cliff. house speaker john boehner and senate majority leader harry reid trading jabs before the cameras on capitol hill. >> going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get...
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"the washington post" wrote, "obama offers plan for cliff, not compromise." "the new york times." "gop balks at white house plan on fiscal crisis." and "the wall street journal," obama's cliff offer spurned. i want to bring in joanne reed and molly ball, political reporter for "the atlantic." good to see both of you. good morning. >> good to be here. >> mitch mcconnell, we are told, literally laughed at the white house's offer. and if you listen to speaker boehner, it's not going very well. take a listen. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> and the speaker tweeted, "how serious is the white house about avoiding the fiscal cliff?" reports suggest, in some cases, not so serious. and also, joanne, what is the strategy here, and is there a risk like looking like you're not really negotiating? >> well, you know, i think what's interesting is that there's the pos
"the washington post" wrote, "obama offers plan for cliff, not compromise." "the new york times." "gop balks at white house plan on fiscal crisis." and "the wall street journal," obama's cliff offer spurned. i want to bring in joanne reed and molly ball, political reporter for "the atlantic." good to see both of you. good morning. >> good to be here. >> mitch mcconnell, we are told, literally laughed at the white house's...
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. >>> meanwhile, washington was abuzz over avoiding the looming fiscal cliff. the president's lunch with mitt romney, the united nations note on palestine. all this as joe biden was christmas shopping. >>> and some amazing random acts of kindness. good morning, everyone. i'm lynn berry. and today the first of the two grand prize powerball winners will come forward to reveal themselves and have their lives change forever. and there's also buzz about a potential code within the winning numbers. nbc's kerry sanders has that story. >> reporter: in tiny dearborn, missouri, where just about everyone knows everyone, the question is was it one of their own who bought a winning powerball ticket? >> it's exciting, very exciting. we never, ever thought that we would sell the winning ticket, and here it is. we did. >> reporter: folks in this farming community just off interstate 70 are now trying to figure out if the winning numbers were chosen with meaning. dearborn is but 35 miles north of kansas city, home of the royals baseball team. those winning lottery numbers? they
. >>> meanwhile, washington was abuzz over avoiding the looming fiscal cliff. the president's lunch with mitt romney, the united nations note on palestine. all this as joe biden was christmas shopping. >>> and some amazing random acts of kindness. good morning, everyone. i'm lynn berry. and today the first of the two grand prize powerball winners will come forward to reveal themselves and have their lives change forever. and there's also buzz about a potential code within the...
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as the fiscal cliff fight rages on in washington, we will take a look at the ripple effect being felt on wall street. a preview of the trading day when we come back. >>> it's been a pretty strong session in europe stocks this morning. for the most part led by thee xetra dax up by 0.3%. u.s. futures, dow about 33 points at the open. so perhaps we could finish the month in the green. let's see what ben liechtenstein thinks. so what's your sense of how this day is shaping up? will we finish on an up note? >> we're seeing slightly positive territory, but very little conviction associated with the trade. again off the weak low that we saw i think it was wednesday, 1383 roughly. the last couple days it's been of a chop type trade. we're headed into the session similar situation, unable to get up before yesterday's high in the overnight session. i'm looking at the dollar really right now. it's kind of in chop trade, as well. even with all the developments and news coming out of europe, we're seeing a very choppy type currency trade. so so far very little conviction. mostly the energy we've b
as the fiscal cliff fight rages on in washington, we will take a look at the ripple effect being felt on wall street. a preview of the trading day when we come back. >>> it's been a pretty strong session in europe stocks this morning. for the most part led by thee xetra dax up by 0.3%. u.s. futures, dow about 33 points at the open. so perhaps we could finish the month in the green. let's see what ben liechtenstein thinks. so what's your sense of how this day is shaping up? will we...
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john boehner, the speaker of the house is speaking out now about the fiscal cliff, let's listen in. >> the bigger problem here, which is our national deficit and our national debt. this debt doesn't exist because we don't tax small businesses enough, it exists because washington continues to spend too much. and raising taxes on small businesses instead of taking a balanced approach that also cuts spending is wrong. it's only going to make it harder for our economy to grow. and if our economy doesn't grow, americans don't get new jobs. and the debt problem that we have will continue to threaten our children's future. as i said the day after the election, republicans are not seeking to impose our will on the president. we're seeking a bipartisan solution that can pass both chambers of congress and be signed into law by the president in the coming days. now, during the campaign the president pledged to the american people that he would seek a balanced approach to addressing the debt, a combination of new revenues and spending cuts. so the day after the election i said the republican majo
john boehner, the speaker of the house is speaking out now about the fiscal cliff, let's listen in. >> the bigger problem here, which is our national deficit and our national debt. this debt doesn't exist because we don't tax small businesses enough, it exists because washington continues to spend too much. and raising taxes on small businesses instead of taking a balanced approach that also cuts spending is wrong. it's only going to make it harder for our economy to grow. and if our...
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. >> eliot: for more on the fiscal cliff negotiations and today's confrontation, let's go to michael tomasky political correspondent. michael, this constitutes high drama by washington standards. any surprise that the president's proposal was outright rejected by speaker boehner? it was an "in your face" proposal to him. >> it was. i'm not surprised. i don't think any of us are surprised it was rejected. i think we're a little surprised, maybe a lot surprised it was put forward in the first place. this is really different. barack obama, this is a really different negotiating posture and position that he is starting from. if we look back to that horrible debt ceiling fiasco from last summer in 2011, i think we all remember how bleak that was that obama started his negotiating position really from a place that met the republicans more than halfway so he was going to be bound to end up meeting them in the final analysis. which is what happened. it was demoralizing. now, after re-election, he has been obviously very embowdenned. he's put forth something -- it is clear they won't accept i
. >> eliot: for more on the fiscal cliff negotiations and today's confrontation, let's go to michael tomasky political correspondent. michael, this constitutes high drama by washington standards. any surprise that the president's proposal was outright rejected by speaker boehner? it was an "in your face" proposal to him. >> it was. i'm not surprised. i don't think any of us are surprised it was rejected. i think we're a little surprised, maybe a lot surprised it was put...
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so much for that brief burst of optimism in washington over the fiscal cliff talks. now republicans and democrats can't even agree on where things stand. >> no substantive progress has been made in the talks. >> and you know there is progress. >> treasury secretary tim geithner sat down with bipartisan congressional leaders to keep pushing for a deal. a top boehner aide said the plan geithner presented is, quote, completely unrealistic. and a top democratic aide said republicans have taken to screaming at them. if no action is taken by december 31st, 650 billion in cuts to the pentagon and domestic programs and tax increases automatically go into effect. after the meeting, the finger-pointing came quickly. republicans say democrats aren't bringing to the table a plan that include significant cuts to medicare and entitlement programs. >> revenue was only on the table. if they were serious. spending cuts. >> the white house drew its own line in the sand and said tax rates must go up on the top earners, but -- >> the middle-class tax cut should be made permanent. >> pre
so much for that brief burst of optimism in washington over the fiscal cliff talks. now republicans and democrats can't even agree on where things stand. >> no substantive progress has been made in the talks. >> and you know there is progress. >> treasury secretary tim geithner sat down with bipartisan congressional leaders to keep pushing for a deal. a top boehner aide said the plan geithner presented is, quote, completely unrealistic. and a top democratic aide said...
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if the fiscal cliff hits and nothing changes. as you go and look at the first group of folks here, talk about people who make very little money, up to $20,000 or $20,000 to $40,000. this yellow part represents the current amount of taxes folks are paying out there. if the fiscal cliff hits and nothing changes, this group would pay about $400 more. this group down here would pay about $1,200 more. that doesn't seem like a whether or not he will lot of money, but against that kind of income it's pretty big. move to the next category. if you go to $40,000 to $64,000 in income or $64,000 to $108,000, you see the green area's much bigger. that's because there are a lot of taxpayers like this. and they're paying a fairly sizable amount. but if they're out there and the fiscal cliff goes all the way through and nothing stops it, look what's going to happen. almost $2,000 more for this group. that's what you would have to pay if you're in that group. and look down here at the other one down here, $64,000 to $108,000, $3,500 more on that.
if the fiscal cliff hits and nothing changes. as you go and look at the first group of folks here, talk about people who make very little money, up to $20,000 or $20,000 to $40,000. this yellow part represents the current amount of taxes folks are paying out there. if the fiscal cliff hits and nothing changes, this group would pay about $400 more. this group down here would pay about $1,200 more. that doesn't seem like a whether or not he will lot of money, but against that kind of income it's...
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and the deadlines that are coming up are when the fiscal cliff occurs at the end of the year or more frankly the thanksgiving -- the christmas holiday season when members of congress probably want to get away and get away from washington for good or at least for a while. and so the real negotiations won't occur until we get really close to christmas or close to the very end of the year. and now we're in the stage where people are kind of making demands, having press conferences, using pr techniques. but the real negotiations won't occur until at least mid-december. >> let's move to the other big topic in washington this week. of course u.n. ambassador susan rice on the hill. she met with several republican senators who have threatened to block her possible nomination as secretary of state. let's play those highlights, as well. >> we are significantly troubled by many of the answers that we got and some that we didn't get. >> bottom line, i'm more disturbed now than i was before. >> i want to say that i'm more troubled today. >> i left that meeting with less of a feeling about her jud
and the deadlines that are coming up are when the fiscal cliff occurs at the end of the year or more frankly the thanksgiving -- the christmas holiday season when members of congress probably want to get away and get away from washington for good or at least for a while. and so the real negotiations won't occur until we get really close to christmas or close to the very end of the year. and now we're in the stage where people are kind of making demands, having press conferences, using pr...
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don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts later. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan. serious cuts and revenue increases. you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close loopholes and raise revenue. >> all right. thanks to both. appreciate it. more than two months after the deadly attac
don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts later. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan. serious cuts and revenue...
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the president makes an offer to avoid the fiscal cliff. lso where are the cuts? we are live in washington with the details. look at that guy. a construction worker walks in a convenience store checks his number and walks out perhaps a multimillionaire. we'll tell it to you straight away. >> officer and a gentleman. you will hear from the cop who spent his hard earned cash to buy a pair of socks and shoes. he pet them on him. "fox and friends" starts right now. ♪ ♪ ho, ho hompt >> indeed. rick it is not christmas time here in new york city until rick descends down one of the tallest buildings in connecticut and there he is. screen left from last year screen right. when he bumped into the building. good morning to you rick. >> some traditions like fruit cake that shouldn't happen . maybe it is one of those tradition. you do it once and this is a building here. give you a shot from the top going down. it gets a little dark there. it gives you an individual. tan ford downtown height lights and they start it off by santa going over this with elvescan on sunday nig
the president makes an offer to avoid the fiscal cliff. lso where are the cuts? we are live in washington with the details. look at that guy. a construction worker walks in a convenience store checks his number and walks out perhaps a multimillionaire. we'll tell it to you straight away. >> officer and a gentleman. you will hear from the cop who spent his hard earned cash to buy a pair of socks and shoes. he pet them on him. "fox and friends" starts right now. ♪ ♪ ho, ho...
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, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. i mean, i... i'm assuming that doesn't sound too good to you. >> no. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> warner: in washington, republicans portrayed the road trip as so much humbug, at a time, they said, when negotiations are going nowhere. >> there's a stalemate. let's not kid ourselves. >> warner: house speaker john boehner said republicans remain willing to raise revenues, but not by raising tax rates. and he charged the whi
, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in...
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. >>> to washington for the battle to avoid the fiscal cliff heating up. president obama hitting the road in moments to pressure lawmakers to strike a deal. kristen welker is at the white house this morning. good morning. >> reporter: president obama travels to hatfield, pennsylvania, where he will turn up pressure with republicans to increase taxes on wealthier americans, after a show of bipartisanship. the president inviting mitt romney to the white house on thursday. with washington deadlocked, president obama reached out to his former rival, inviting mitt romney to lunch at the white house, aiming to put past differences to rest. >> i think that he's very interested in some of governor romney's ideas. >> reporter: romney arrived shortly after noon thursday. white house officials revealed few details about the lunch, saying only they ate white turkey chili, and the meeting lasted more than an hour, with governor romney congratulating the president on re-election. in the sole picture released by the white house, you can see the dining room where the men
. >>> to washington for the battle to avoid the fiscal cliff heating up. president obama hitting the road in moments to pressure lawmakers to strike a deal. kristen welker is at the white house this morning. good morning. >> reporter: president obama travels to hatfield, pennsylvania, where he will turn up pressure with republicans to increase taxes on wealthier americans, after a show of bipartisanship. the president inviting mitt romney to the white house on thursday. with...
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past the fiscal cliff for six months or maybe even a year to try to get the bigger package. >> so if halperin thinks biden's going to be the definer here, i'm a little concerned because anyone who goes to costco does not care about spending money. >> it's a fascinating question. eugene robinson, i must ask you -- we love joe. joe's amazing. >> he's perfect. >> does tom cole this morning feel a bit like uriah being sent out front only to be slaughtered? yes, let's be generous, let's talk about raising taxes, though i'm one of the most conservative conservatives. let's be responsible like the media's told us to be responsible. and then the president comes out with his offer, and everybody's just staring at him. he's going to be primaried. >> well, he could be primaried. i think that's the risk he ran. i think tom cole, what he said was smart, actually, and would be smart for the republicans to take. >> yeah, if you live in georgetown. >> to take a deal with 98%. look, what the president has done is put out a sort of maximalist opening position, and the way i look at it, it gives boehne
past the fiscal cliff for six months or maybe even a year to try to get the bigger package. >> so if halperin thinks biden's going to be the definer here, i'm a little concerned because anyone who goes to costco does not care about spending money. >> it's a fascinating question. eugene robinson, i must ask you -- we love joe. joe's amazing. >> he's perfect. >> does tom cole this morning feel a bit like uriah being sent out front only to be slaughtered? yes, let's be...